Washington, DC – June 15, 2022: The Executive Board of the International Monetary Fund (IMF) today approved a US$280 million (100 percent of quota and SDR 210.4 million) StandBy Arrangement for Georgia which provides support for the authorities’ economic policies over the next three years. The Board’s decision makes about US$40 million (SDR 30 million or 14.3 percent of Georgia’s quota) immediately available. The Georgian authorities intend to treat the new arrangement as precautionary.
The authorities’ IMF-supported program seeks to further entrench macroeconomic stability, build resilience, and strengthen medium-term growth as the country emerges from the COVID19 pandemic and contends with spillovers from the war in Ukraine.
Press Release is expected to be published on Friday, June 17, 2022.